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Foreclosure Counseling (NFMC)

1.8 million people helped The National Foreclosure Mitigation Counseling (NFMC) program was launched in December 2007 with funds appropriated by Congress to address the nationwide foreclosure crisis by dramatically increasing the availability of housing counseling for families at risk of foreclosure.

NeighborWorks America distributes funds to competitively selected grantee organizations, which in turn provide the counseling services, either directly or through sub-grantees.

Grants also fund legal assistance for homeowners and the training of foreclosure counselors. More than 1,700 counseling agencies participate in the program.
 

Program Highlights

NFMC announces a tenth round and supplemental grant funding opportunity
NFMC releases eleventh congressional report (September 24, 2015)
NFMC serves 2 million homeowners
The National Foreclosure Mitigation Counseling (NFMC) program has just reached a major milestone: 2 million homeowners served!

Few programs have been shown to be as effective at assisting homeowners as the NFMC program. Research from the Urban Institute found that:
 
  • Counseled homeowners were nearly twice as likely to receive a cure for their serious delinquency or foreclosure as non-NFMC counseled homeowners.
  • Counseled homeowners were about 1.5 times more likely to not have their mortgage re-enter a troubled status after receiving a loan modification cure.
  • NFMC-counseled homeowners who received a modification had their annual payment reduced by an average of $4,980.
This milestone could have not been reached without the tireless effort of the NeighborWorks organizations, state housing finance agencies and HUD-approved housing counseling intermediaries participating in the program.

Previous rounds of NFMC funding

Homes & Finances

Contact Us:

Nicole Harmon, vice president
National Foreclosure Mitigation Counseling program
NFMC@nw.org